Short Interest in GSI Technology, Inc. (NASDAQ:GSIT) Rises By 10.2%

GSI Technology, Inc. (NASDAQ:GSIT) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 537,700 shares, a growth of 10.2% from the September 30th total of 487,900 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 146,800 shares, the short-interest ratio is presently 3.7 days.

GSI Technology Stock Performance

Shares of GSIT traded down $0.03 during mid-day trading on Thursday, reaching $3.18. The stock had a trading volume of 202,641 shares, compared to its average volume of 292,960. The firm has a market cap of $80.92 million, a price-to-earnings ratio of -5.30 and a beta of 0.95. GSI Technology has a 12 month low of $1.88 and a 12 month high of $6.02. The business has a fifty day moving average of $3.14 and a 200 day moving average of $2.96.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings results on Thursday, October 24th. The semiconductor company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $4.55 million during the quarter. GSI Technology had a negative return on equity of 46.39% and a negative net margin of 66.67%.

Institutional Trading of GSI Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. bought a new position in shares of GSI Technology during the 1st quarter valued at about $42,000. Viawealth LLC grew its holdings in GSI Technology by 82.4% during the 1st quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 10,550 shares in the last quarter. Virtu Financial LLC bought a new stake in GSI Technology in the 1st quarter worth approximately $135,000. Silverberg Bernstein Capital Management LLC increased its stake in GSI Technology by 2.8% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock worth $1,235,000 after acquiring an additional 12,843 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of GSI Technology by 42.3% during the 2nd quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 5,890 shares in the last quarter. Institutional investors own 33.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut GSI Technology from a “hold” rating to a “sell” rating in a research report on Monday.

GSI Technology Company Profile

GSI Technology, Inc designs, develops, and markets semiconductor memory solutions to networking, industrial, medical, aerospace, and military customers in the United States, China, Singapore, Germany, the Netherlands, and internationally. It offers associative processing unit products, which are focuses on applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.